Insolvency Statistics in Canada—January 2021

Definitions

Bankruptcy
The state of a consumer or a business that has made an assignment in bankruptcy or against whom a bankruptcy order has been made.
Business
Any commercial entity or organization other than an individual, or an individual who has incurred 50% or more of total liabilities as a result of operating a business.
Consumer
An individual with more than 50% of total liabilities related to consumer goods and services.
Corporation
A commercial entity or organization.
Individual Business
An individual who has incurred 50% or more of total liabilities as a result of operating a business.
North American Industry Classification System (NAICS)
System that classifies economic units that have similar production processes in the same industry. This is a supply-based or production-oriented economic concept.
Proposal
An offer to creditors to settle debts under conditions other than the existing terms. A proposal is a formal agreement under the Bankruptcy and Insolvency Act.

Note:

Monthly statistics for insolvency volumes tend to vary widely. Quarterly and annual statistics can be more indicative of the evolution of insolvency volume.

Table 1: Total Insolvencies
- Volume % Change 12-Month Period Ending
January 2021 December 2020 January 2020 Dec. 2020 to
Jan. 2021
Jan. 2020 to
Jan. 2021
01-31-2021 01-31-2020 % Change
Newfoundland and Labrador 136 129 166 5.4 -18.1 1,853 3,216 -42.4
Bankruptcies 49 45 72 8.9 -31.9 755 1,489 -49.3
Proposals 87 84 94 3.6 -7.4 1,098 1,727 -36.4
Prince Edward Island 32 40 54 -20.0 -40.7 406 756 -46.3
Bankruptcies 13 14 31 -7.1 -58.1 186 391 -52.4
Proposals 19 26 23 -26.9 -17.4 220 365 -39.7
Nova Scotia 223 245 425 -9.0 -47.5 3,315 6,055 -45.3
Bankruptcies 94 106 208 -11.3 -54.8 1,501 3,186 -52.9
Proposals 129 139 217 -7.2 -40.6 1,814 2,869 -36.8
New Brunswick 249 284 385 -12.3 -35.3 3,253 4,933 -34.1
Bankruptcies 106 123 146 -13.8 -27.4 1,462 2,367 -38.2
Proposals 143 161 239 -11.2 -40.2 1,791 2,566 -30.2
Quebec 1,983 1,910 3,684 3.8 -46.2 26,581 45,299 -41.3
Bankruptcies 857 977 1,573 -12.3 -45.5 12,256 21,592 -43.2
Proposals 1,126 933 2,111 20.7 -46.7 14,325 23,707 -39.6
Ontario 2,441 2,660 3,735 -8.2 -34.6 33,457 46,290 -27.7
Bankruptcies 585 833 1,109 -29.8 -47.2 9,225 15,274 -39.6
Proposals 1,856 1,827 2,626 1.6 -29.3 24,232 31,016 -21.9
Manitoba 201 196 284 2.6 -29.2 2,479 3,251 -23.7
Bankruptcies 57 64 86 -10.9 -33.7 786 1,377 -42.9
Proposals 144 132 198 9.1 -27.3 1,693 1,874 -9.7
Saskatchewan 216 262 310 -17.6 -30.3 2,595 3,578 -27.5
Bankruptcies 54 76 105 -28.9 -48.6 867 1,367 -36.6
Proposals 162 186 205 -12.9 -21.0 1,728 2,211 -21.8
Alberta 1,094 1,090 1,452 0.4 -24.7 12,891 17,114 -24.7
Bankruptcies 258 280 440 -7.9 -41.4 3,542 5,725 -38.1
Proposals 836 810 1,012 3.2 -17.4 9,349 11,389 -17.9
British Columbia 662 697 834 -5.0 -20.6 8,226 11,327 -27.4
Bankruptcies 182 178 289 2.2 -37.0 2,582 4,163 -38.0
Proposals 480 519 545 -7.5 -11.9 5,644 7,164 -21.2
Northwest Territories 8 6 5 33.3 60.0 50 70 -28.6
Bankruptcies 1 0 2 n/a -50.0 9 12 -25.0
Proposals 7 6 3 16.7 133.3 41 58 -29.3
Yukon 3 4 3 -25.0 0.0 36 33 9.1
Bankruptcies 1 1 1 0.0 0.0 11 13 -15.4
Proposals 2 3 2 -33.3 0.0 25 20 25.0
Nunavut 1 4 0 -75.0 n/a 14 8 75.0
Bankruptcies 0 0 0 n/a n/a 1 2 -50.0
Proposals 1 4 0 -75.0 n/a 13 6 116.7
Canada 7,249 7,527 11,337 -3.7 -36.1 95,156 141,930 -33.0
Bankruptcies 2,257 2,697 4,062 -16.3 -44.4 33,183 56,958 -41.7
Proposals 4,992 4,830 7,275 3.4 -31.4 61,973 84,972 -27.1
Table 2: Insolvencies Filed by Consumers
- Volume % Change 12-Month Period Ending
January 2021 December 2020 January 2020 Dec. 2020 to
Jan. 2021
Jan. 2020 to
Jan. 2021
01-31-2021 01-31-2020 % Change
Newfoundland and Labrador 135 129 166 4.7 -18.7 1,842 3,177 -42.0
Bankruptcies 48 45 72 6.7 -33.3 744 1,456 -48.9
Proposals 87 84 94 3.6 -7.4 1,098 1,721 -36.2
Prince Edward Island 32 40 53 -20.0 -39.6 405 745 -45.6
Bankruptcies 13 14 30 -7.1 -56.7 186 381 -51.2
Proposals 19 26 23 -26.9 -17.4 219 364 -39.8
Nova Scotia 220 245 419 -10.2 -47.5 3,299 5,993 -45.0
Bankruptcies 91 106 202 -14.2 -55.0 1,488 3,132 -52.5
Proposals 129 139 217 -7.2 -40.6 1,811 2,861 -36.7
New Brunswick 248 279 384 -11.1 -35.4 3,229 4,892 -34.0
Bankruptcies 106 122 145 -13.1 -26.9 1,447 2,336 -38.1
Proposals 142 157 239 -9.6 -40.6 1,782 2,556 -30.3
Quebec 1,892 1,775 3,497 6.6 -45.9 25,078 43,142 -41.9
Bankruptcies 781 856 1,436 -8.8 -45.6 11,059 19,963 -44.6
Proposals 1,111 919 2,061 20.9 -46.1 14,019 23,179 -39.5
Ontario 2,393 2,600 3,660 -8.0 -34.6 32,725 45,397 -27.9
Bankruptcies 549 787 1,063 -30.2 -48.4 8,699 14,636 -40.6
Proposals 1,844 1,813 2,597 1.7 -29.0 24,026 30,761 -21.9
Manitoba 200 194 283 3.1 -29.3 2,444 3,216 -24.0
Bankruptcies 56 62 85 -9.7 -34.1 758 1,348 -43.8
Proposals 144 132 198 9.1 -27.3 1,686 1,868 -9.7
Saskatchewan 214 257 301 -16.7 -28.9 2,553 3,474 -26.5
Bankruptcies 52 71 98 -26.8 -46.9 832 1,302 -36.1
Proposals 162 186 203 -12.9 -20.2 1,721 2,172 -20.8
Alberta 1,086 1,083 1,435 0.3 -24.3 12,740 16,888 -24.6
Bankruptcies 254 276 424 -8.0 -40.1 3,432 5,563 -38.3
Proposals 832 807 1,011 3.1 -17.7 9,308 11,325 -17.8
British Columbia 654 694 823 -5.8 -20.5 8,101 11,203 -27.7
Bankruptcies 176 176 282 0.0 -37.6 2,503 4,076 -38.6
Proposals 478 518 541 -7.7 -11.6 5,598 7,127 -21.5
Northwest Territories 8 6 5 33.3 60.0 50 68 -26.5
Bankruptcies 1 0 2 n/a -50.0 9 11 -18.2
Proposals 7 6 3 16.7 133.3 41 57 -28.1
Yukon 3 4 3 -25.0 0.0 36 33 9.1
Bankruptcies 1 1 1 0.0 0.0 11 13 -15.4
Proposals 2 3 2 -33.3 0.0 25 20 25.0
Nunavut 1 4 0 -75.0 n/a 13 6 116.7
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 1 4 0 -75.0 n/a 13 6 116.7
Canada 7,086 7,310 11,029 -3.1 -35.8 92,515 138,234 -33.1
Bankruptcies 2,128 2,516 3,840 -15.4 -44.6 31,168 54,217 -42.5
Proposals 4,958 4,794 7,189 3.4 -31.0 61,347 84,017 -27.0
Table 3: Insolvencies Filed by Businesses
- Volume % Change 12-Month Period Ending
January 2021 December 2020 January 2020 Dec. 2020 to
Jan. 2021
Jan. 2020 to
Jan. 2021
01-31-2021 01-31-2020 % Change
Newfoundland and Labrador 1 0 0 n/a n/a 11 39 -71.8
Bankruptcies 1 0 0 n/a n/a 11 33 -66.7
Proposals 0 0 0 n/a n/a 0 6 -100.0
Prince Edward Island 0 0 1 n/a -100.0 1 11 -90.9
Bankruptcies 0 0 1 n/a -100.0 0 10 -100.0
Proposals 0 0 0 n/a n/a 1 1 0.0
Nova Scotia 3 0 6 n/a -50.0 16 62 -74.2
Bankruptcies 3 0 6 n/a -50.0 13 54 -75.9
Proposals 0 0 0 n/a n/a 3 8 -62.5
New Brunswick 1 5 1 -80.0 0.0 24 41 -41.5
Bankruptcies 0 1 1 -100.0 -100.0 15 31 -51.6
Proposals 1 4 0 -75.0 n/a 9 10 -10.0
Quebec 91 135 187 -32.6 -51.3 1,503 2,157 -30.3
Bankruptcies 76 121 137 -37.2 -44.5 1,197 1,629 -26.5
Proposals 15 14 50 7.1 -70.0 306 528 -42.0
Ontario 48 60 75 -20.0 -36.0 732 893 -18.0
Bankruptcies 36 46 46 -21.7 -21.7 526 638 -17.6
Proposals 12 14 29 -14.3 -58.6 206 255 -19.2
Manitoba 1 2 1 -50.0 0.0 35 35 0.0
Bankruptcies 1 2 1 -50.0 0.0 28 29 -3.4
Proposals 0 0 0 n/a n/a 7 6 16.7
Saskatchewan 2 5 9 -60.0 -77.8 42 104 -59.6
Bankruptcies 2 5 7 -60.0 -71.4 35 65 -46.2
Proposals 0 0 2 n/a -100.0 7 39 -82.1
Alberta 8 7 17 14.3 -52.9 151 226 -33.2
Bankruptcies 4 4 16 0.0 -75.0 110 162 -32.1
Proposals 4 3 1 33.3 300.0 41 64 -35.9
British Columbia 8 3 11 166.7 -27.3 125 124 0.8
Bankruptcies 6 2 7 200.0 -14.3 79 87 -9.2
Proposals 2 1 4 100.0 -50.0 46 37 24.3
Northwest Territories 0 0 0 n/a n/a 0 2 -100.0
Bankruptcies 0 0 0 n/a n/a 0 1 -100.0
Proposals 0 0 0 n/a n/a 0 1 -100.0
Yukon 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Nunavut 0 0 0 n/a n/a 1 2 -50.0
Bankruptcies 0 0 0 n/a n/a 1 2 -50.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 163 217 308 -24.9 -47.1 2,641 3,696 -28.5
Bankruptcies 129 181 222 -28.7 -41.9 2,015 2,741 -26.5
Proposals 34 36 86 -5.6 -60.5 626 955 -34.5
Table 3a: Insolvencies Filed by Corporations
- Volume % Change 12-Month Period Ending
January 2021 December 2020 January 2020 Dec. 2020 to
Jan. 2021
Jan. 2020 to
Jan. 2021
01-31-2021 01-31-2020 % Change
Newfoundland and Labrador 1 0 0 n/a n/a 4 11 -63.6
Bankruptcies 1 0 0 n/a n/a 4 8 -50.0
Proposals 0 0 0 n/a n/a 0 3 -100.0
Prince Edward Island 0 0 0 n/a n/a 1 4 -75.0
Bankruptcies 0 0 0 n/a n/a 0 3 -100.0
Proposals 0 0 0 n/a n/a 1 1 0.0
Nova Scotia 2 0 3 n/a -33.3 10 32 -68.8
Bankruptcies 2 0 3 n/a -33.3 8 25 -68.0
Proposals 0 0 0 n/a n/a 2 7 -71.4
New Brunswick 1 2 1 -50.0 0.0 14 28 -50.0
Bankruptcies 0 1 1 -100.0 -100.0 11 22 -50.0
Proposals 1 1 0 0.0 n/a 3 6 -50.0
Quebec 77 126 163 -38.9 -52.8 1,328 1,886 -29.6
Bankruptcies 69 115 124 -40.0 -44.4 1,083 1,460 -25.8
Proposals 8 11 39 -27.3 -79.5 245 426 -42.5
Ontario 30 36 43 -16.7 -30.2 477 479 -0.4
Bankruptcies 27 31 35 -12.9 -22.9 373 360 3.6
Proposals 3 5 8 -40.0 -62.5 104 119 -12.6
Manitoba 0 1 0 -100.0 n/a 14 13 7.7
Bankruptcies 0 1 0 -100.0 n/a 9 11 -18.2
Proposals 0 0 0 n/a n/a 5 2 150.0
Saskatchewan 0 3 2 -100.0 -100.0 11 9 22.2
Bankruptcies 0 3 2 -100.0 -100.0 9 6 50.0
Proposals 0 0 0 n/a n/a 2 3 -33.3
Alberta 3 3 13 0.0 -76.9 86 128 -32.8
Bankruptcies 2 2 12 0.0 -83.3 66 94 -29.8
Proposals 1 1 1 0.0 0.0 20 34 -41.2
British Columbia 5 1 3 400.0 66.7 87 50 74.0
Bankruptcies 3 0 2 n/a 50.0 55 35 57.1
Proposals 2 1 1 100.0 100.0 32 15 113.3
Northwest Territories 0 0 0 n/a n/a 0 1 -100.0
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 1 -100.0
Yukon 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Nunavut 0 0 0 n/a n/a 1 2 -50.0
Bankruptcies 0 0 0 n/a n/a 1 2 -50.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 119 172 228 -30.8 -47.8 2,033 2,643 -23.1
Bankruptcies 104 153 179 -32.0 -41.9 1,619 2,026 -20.1
Proposals 15 19 49 -21.1 -69.4 414 617 -32.9
Table 3b: Insolvencies Filed by Individual Businesses
- Volume % Change 12-Month Period Ending
January 2021 December 2020 January 2020 Dec. 2020 to
Jan. 2021
Jan. 2020 to
Jan. 2021
01-31-2021 01-31-2020 % Change
Newfoundland and Labrador 0 0 0 n/a n/a 7 28 -75.0
Bankruptcies 0 0 0 n/a n/a 7 25 -72.0
Proposals 0 0 0 n/a n/a 0 3 -100.0
Prince Edward Island 0 0 1 n/a -100.0 0 7 -100.0
Bankruptcies 0 0 1 n/a -100.0 0 7 -100.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Nova Scotia 1 0 3 n/a -66.7 6 30 -80.0
Bankruptcies 1 0 3 n/a -66.7 5 29 -82.8
Proposals 0 0 0 n/a n/a 1 1 0.0
New Brunswick 0 3 0 -100.0 n/a 10 13 -23.1
Bankruptcies 0 0 0 n/a n/a 4 9 -55.6
Proposals 0 3 0 -100.0 n/a 6 4 50.0
Quebec 14 9 24 55.6 -41.7 175 271 -35.4
Bankruptcies 7 6 13 16.7 -46.2 114 169 -32.5
Proposals 7 3 11 133.3 -36.4 61 102 -40.2
Ontario 18 24 32 -25.0 -43.8 255 414 -38.4
Bankruptcies 9 15 11 -40.0 -18.2 153 278 -45.0
Proposals 9 9 21 0.0 -57.1 102 136 -25.0
Manitoba 1 1 1 0.0 0.0 21 22 -4.5
Bankruptcies 1 1 1 0.0 0.0 19 18 5.6
Proposals 0 0 0 n/a n/a 2 4 -50.0
Saskatchewan 2 2 7 0.0 -71.4 31 95 -67.4
Bankruptcies 2 2 5 0.0 -60.0 26 59 -55.9
Proposals 0 0 2 n/a -100.0 5 36 -86.1
Alberta 5 4 4 25.0 25.0 65 98 -33.7
Bankruptcies 2 2 4 0.0 -50.0 44 68 -35.3
Proposals 3 2 0 50.0 n/a 21 30 -30.0
British Columbia 3 2 8 50.0 -62.5 38 74 -48.6
Bankruptcies 3 2 5 50.0 -40.0 24 52 -53.8
Proposals 0 0 3 n/a -100.0 14 22 -36.4
Northwest Territories 0 0 0 n/a n/a 0 1 -100.0
Bankruptcies 0 0 0 n/a n/a 0 1 -100.0
Proposals 0 0 0 n/a n/a 0 0 n/a
Yukon 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Nunavut 0 0 0 n/a n/a 0 0 n/a
Bankruptcies 0 0 0 n/a n/a 0 0 n/a
Proposals 0 0 0 n/a n/a 0 0 n/a
Canada 44 45 80 -2.2 -45.0 608 1,053 -42.3
Bankruptcies 25 28 43 -10.7 -41.9 396 715 -44.6
Proposals 19 17 37 11.8 -48.6 212 338 -37.3
Table 4: Insolvencies by NAICS Economic Sectors, Canada
- Volume % Change 12-Month Period Ending
January 2021 December 2020 January 2020 Dec. 2020 to
Jan. 2021
Jan. 2020 to
Jan. 2021
01-31-2021 01-31-2020 % Change
Agriculture, Forestry, Fishing and Hunting 5 5 9 0.0 -44.4 57 62 -8.1
Bankruptcies 5 3 5 66.7 0.0 44 41 7.3
Proposals 0 2 4 -100.0 -100.0 13 21 -38.1
Mining and Oil and Gas Extraction 6 2 1 200.0 500.0 41 38 7.9
Bankruptcies 2 2 1 0.0 100.0 26 25 4.0
Proposals 4 0 0 n/a n/a 15 13 15.4
Utilities 0 0 0 n/a n/a 5 7 -28.6
Bankruptcies 0 0 0 n/a n/a 5 4 25.0
Proposals 0 0 0 n/a n/a 0 3 -100.0
Construction 28 18 34 55.6 -17.6 332 669 -50.4
Bankruptcies 23 17 23 35.3 0.0 258 488 -47.1
Proposals 5 1 11 400.0 -54.5 74 181 -59.1
Manufacturing 16 16 25 0.0 -36.0 222 341 -34.9
Bankruptcies 9 14 13 -35.7 -30.8 161 240 -32.9
Proposals 7 2 12 250.0 -41.7 61 101 -39.6
Wholesale Trade 9 10 15 -10.0 -40.0 133 198 -32.8
Bankruptcies 7 6 11 16.7 -36.4 106 137 -22.6
Proposals 2 4 4 -50.0 -50.0 27 61 -55.7
Retail Trade 9 22 40 -59.1 -77.5 346 393 -12.0
Bankruptcies 9 19 29 -52.6 -69.0 250 298 -16.1
Proposals 0 3 11 -100.0 -100.0 96 95 1.1
Transportation and Warehousing 9 15 28 -40.0 -67.9 145 226 -35.8
Bankruptcies 8 10 17 -20.0 -52.9 114 163 -30.1
Proposals 1 5 11 -80.0 -90.9 31 63 -50.8
Information and Cultural Industries 5 4 9 25.0 -44.4 44 83 -47.0
Bankruptcies 5 3 6 66.7 -16.7 35 61 -42.6
Proposals 0 1 3 -100.0 -100.0 9 22 -59.1
Finance and Insurance 10 7 3 42.9 233.3 45 61 -26.2
Bankruptcies 10 7 2 42.9 400.0 36 49 -26.5
Proposals 0 0 1 n/a -100.0 9 12 -25.0
Real Estate and Rental and Leasing 9 21 14 -57.1 -35.7 135 153 -11.8
Bankruptcies 7 21 12 -66.7 -41.7 97 112 -13.4
Proposals 2 0 2 n/a 0.0 38 41 -7.3
Professional, Scientific and Technical Services 15 19 18 -21.1 -16.7 183 280 -34.6
Bankruptcies 12 16 12 -25.0 0.0 142 222 -36.0
Proposals 3 3 6 0.0 -50.0 41 58 -29.3
Management of Companies and Enterprises 3 8 7 -62.5 -57.1 92 84 9.5
Bankruptcies 2 8 5 -75.0 -60.0 65 67 -3.0
Proposals 1 0 2 n/a -50.0 27 17 58.8
Administrative and Support, Waste Management and Remediation Services 8 13 12 -38.5 -33.3 116 174 -33.3
Bankruptcies 6 9 8 -33.3 -25.0 82 124 -33.9
Proposals 2 4 4 -50.0 -50.0 34 50 -32.0
Educational Services 1 3 4 -66.7 -75.0 36 36 0.0
Bankruptcies 1 3 3 -66.7 -66.7 30 26 15.4
Proposals 0 0 1 n/a -100.0 6 10 -40.0
Health Care and Social Assistance 2 5 8 -60.0 -75.0 62 85 -27.1
Bankruptcies 2 4 6 -50.0 -66.7 49 58 -15.5
Proposals 0 1 2 -100.0 -100.0 13 27 -51.9
Arts, Entertainment and Recreation 4 6 13 -33.3 -69.2 108 84 28.6
Bankruptcies 2 4 11 -50.0 -81.8 84 66 27.3
Proposals 2 2 2 0.0 0.0 24 18 33.3
Accommodation and Food Services 14 31 47 -54.8 -70.2 408 510 -20.0
Bankruptcies 11 25 38 -56.0 -71.1 330 398 -17.1
Proposals 3 6 9 -50.0 -66.7 78 112 -30.4
Other Services (except Public Administration) 10 12 21 -16.7 -52.4 128 212 -39.6
Bankruptcies 8 10 20 -20.0 -60.0 99 162 -38.9
Proposals 2 2 1 0.0 100.0 29 50 -42.0
Public Administration 0 0 0 n/a n/a 3 0 n/a
Bankruptcies 0 0 0 n/a n/a 2 0 n/a
Proposals 0 0 0 n/a n/a 1 0 n/a
Total 163 217 308 -24.9 -47.1 2,641 3,696 -28.5
Bankruptcies 129 181 222 -28.7 -41.9 2,015 2,741 -26.5
Proposals 34 36 86 -5.6 -60.5 626 955 -34.5